507 River AveSouth BendIN46601
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in South Bend at 507 River Ave, South Bend, IN, 46601 priced at $210,000 converts $2,063/mo rent into $802/mo cash flow after a $1,028/mo obligation. Total monthly income equals $2,063/mo, and annual cash flow totals $9,627/yr on $69,615 invested. Return on cash invested prints 33.74% in year one, and rental yield reads 11.79% against a $210,000 entry. Equity gained on principal adds $1,355/yr, while 5% annual appreciation compiles into $58,019 by year five. Five-year ROI reaches 176.79% and total cumulative return in cash sums $123,076. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,063/mo property income covering a $1,028/mo payment, not borrower’s personal income.
Single Family
Built in 1920
3,920 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46601, South Bend, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,926 (100%) |
| Owner Occupied HU | 518 (17.7%) |
| Renter Occupied HU | 1,844 (63.0%) |
| Vacant Housing Units | 564 (19.3%) |
| Median Home Value | $156,964 |
| Average Home Value | $180,471 |
Housing Distribution
Address Breakdown
Residential
2,428
Single Family
1,533
Multi-Family
895
Businesses
597
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Listed by: Jill Robinson • eXp Realty, LLC
Mls Name: IRMLS
Mls Provider:
Mls ID: #202436410
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.